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Kimberly-Clark buying Tylenol maker Kenvue in $48.7 billion deal
Business |
2025/11/01 08:03
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Kimberly-Clark is buying Tylenol maker Kenvue in a cash and stock deal worth about $48.7 billion, creating a massive consumer health goods company.
Shareholders of Kimberly-Clark will own about 54% of the combined company. Kenvue shareholders will own about 46%.
The combined company will have a large stable of household brands under one roof, putting Kenvue’s Listerine mouthwash and Band-Aid side-by-side with Kimberly-Clark’s Cottonelle toilet paper, Huggies and Kleenex tissues. It will also generate about $32 billion in annual revenue.
Kenvue has spent a relatively brief period as an independent company, having been spun off by Johnson & Johnson two years ago. J&J first announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions.
The deal announced Monday is among the largest corporate takeovers of the year.
Kenvue was thrust into the national spotlight last month when Health Secretary Robert F. Kennedy, Jr. reasserted the unproven link between the pain reliever Tylenol and autism, and suggested people who opposed the theory were motivated by hatred for President Donald Trump.
During a meeting with Trump and the Cabinet, Kennedy reiterated the connection, even while noting there was no medical proof to substantiate the claim.
In July Kenvue, announced that CEO Thibaut Mongon was leaving in the midst of a strategic review with the company under mounting pressure from activist investors. Board member Kirk Perry is serving as interim CEO.
“We will serve billions of consumers across every stage of life,” Kimberly-Clark Chairman and CEO Mike Hsu said in a statement.
Hsu will be chairman and CEO of the combined company. Three members of the Kenvue’s board will join Kimberly-Clark’s board at closing. The combined company will keep Kimberly-Clark’s headquarters in Irving, Texas and continue to have a significant presence in Kenvue’s locations.
The deal is expected to close in the second half of next year. It still needs approval from shareholders of both both companies.
Kenvue shareholders will receive $3.50 per share in cash and 0.14625 Kimberly-Clark shares for each Kenvue share held at closing. That amounts to $21.01 per share, based on the closing price of Kimberly-Clark shares on Friday.
Kimberly-Clark and Kenvue said that they identified about $1.9 billion in cost savings that are expected in the first three years after the transaction’s closing.
Shares of Kimberly-Clark slipped more than 15% before the market open, while Kenvue’s stock jumped more than 20%.
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US and Australia sign critical-minerals agreement as a way to counter China
Business |
2025/10/20 16:19
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President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday as the U.S. eyes the continent’s rich rare-earth resources at a time when China is imposing tougher rules on exporting its own critical minerals abroad.
The two leaders described the agreement as an $8.5 billion deal between the allies. Trump said it had been negotiated over several months.
“In about a year from now we’ll have so much critical mineral and rare earth that you won’t know what to do with them,” said Trump, a Republican, boasting about the deal. “They’ll be worth $2.”
Albanese added that the agreement takes the U.S.-Australia relationship “to the next level.”
Earlier this month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials that originated from China or were produced with Chinese technology. The Trump administration says this gives China broad power over the global economy by controlling the tech supply chain.
“Australia is really, really going to be helpful in the effort to take the global economy and make it less risky, less exposed to the kind of rare earth extortion that we’re seeing from the Chinese,” Kevin Hassett, the director of the White House’s National Economic Council, told reporters Monday morning ahead of Trump’s meeting with Albanese.
Hassett noted that Australia has one of the best mining economies in the world, while praising its refiners and its abundance of rare earth resources. Among the Australian officials accompanying Albanese are ministers overseeing resources and industry and science, and Australia has dozens of critical minerals sought by the U.S. because they are needed in everything from fighter jets and electric vehicles to laptops and phones.
The agreement could have an immediate impact on rare earth supplies in the United States if American companies can secure some of what Australian mines are already producing, although it will take years — if not decades — to develop enough of a supply of rare earths outside of China to reduce its dominance.
Pini Althaus, who founded USA Rare Earth back in 2019 and is now working to develop new mines in Kazakhstan and Uzbekistan as CEO of Cove Capital, said it will be crucial that the contracts to buy materials from Australian mines include price floors, similar to what the U.S. government promised MP Materials this summer, to protect against China manipulating prices.
For decades, China has used the tactic of dumping excess critical minerals onto the market to drive prices down to force mining companies in the rest of the world out of business to eliminate any competition.
“I think taking away that arrow in the quiver of China to manipulate pricing is an absolute crucial first step in Australia and the West being able to develop critical minerals projects to meet our supply chain demands,” said Althaus, who has spent nearly a quarter-century in the mining business.
The agreement underscores how the U.S. is using its global allies to counter China, especially as it weaponizes its traditional dominance in rare earth materials. Top Trump officials have used the tactics from Beijing as a rallying cry for the U.S. and its allies to work together to try to minimize China’s influence.
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Web Promo Expands as Nationwide Korean-American Portal
Business |
2025/09/24 10:44
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WebPromo.com has launched with the goal of becoming a nationwide hub for Korean-Americans, offering a , headquartered in San Antonio, Texas, is strengthening its presence as a comprehensive Korean-American portal by combining advanced web development with a broad content network.
The company collaborates with Korean web developers and works under the leadership of internationally recognized web producer Antonio Shin, ensuring that the platform maintains both technical excellence and global reach.
The website covers regional information across all 50 U.S. states, while also serving as a hub for Korean-American community content. With its wide scope, WebPromo has attracted more than 5,000 bloggers who actively contribute posts, articles, and resources.
This collective participation has positioned the platform as one of the largest and most dynamic online spaces for Korean residents in the United States.
By bringing together professional development expertise and a vibrant blogging community, WebPromo continues to build on its vision of being the central digital gateway for Korean-Americans nationwide.
WebPromo.com was launched with the vision of creating a nationwide Korean-American portal, where people across the United States can easily access the information they need.
While a few local community sites exist, the lack of a comprehensive platform that brings together Korean residents nationwide inspired the development of WebPromo.com.
The platform combines a Korean-American blog community with a business services hub, enabling users to share information, update news, and connect with others.
As a community-driven portal, WebPromo.com allows individuals to post their own content ? whether blogs, news, or discussions. However, this openness also raises the possibility of copyright-related issues, which the site proactively addresses through clear legal guidelines.
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Call of Duty Maker Seeks Dismissal in Texas School Shooting Case
Business |
2025/09/16 08:06
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A lawyer for the maker of the video game Call of Duty argued Friday that a judge should dismiss a lawsuit brought by families of the victims of the Robb Elementary School attack in Uvalde, Texas, saying the contents of the war game are protected by the First Amendment.
The families sued Call of Duty maker Activision and Meta Platforms, which owns Instagram, saying that the companies bear responsibility for promoting products used by the teen gunman.
Three sets of parents who lost children in the shooting were in the audience at the Los Angeles hearing.
Activision lawyer Bethany Kristovich told Superior Court Judge William Highberger that the “First Amendment bars their claims, period full stop.”
“The issues of gun violence are incredibly difficult,” Kristovich said. “The evidence in this case is not.”
She argued that the case has little chance of prevailing if it continues, because courts have repeatedly held that “creators of artistic works, whether they be books, music, movies, TV or video games, cannot be held legally liable for the acts of their audience.”
The lawsuit, one of many involving Uvalde families, was filed last year on the second anniversary of one of the deadliest school shootings in U.S. history. The gunman killed 19 students and two teachers. Officers finally confronted and shot him after waiting more than an hour to enter the fourth-grade classroom.
Kimberly Rubio, whose 10-year-old daughter Lexi was killed in the shooting, was among the parents who came from Texas to Southern California, where Activision is based, for the hearing.
“We traveled all this way, so we need answers,” Rubio said outside the courthouse. “It’s our hope that the case will move forward so we can get those answers.”
An attorney for the families argued during the hearing that Call of Duty exceeds its First Amendment protections by moving into marketing.
“The basis of our complaint is not the existence of Call of Duty,” Katie Mesner-Hage told the judge. “It is using Call of Duty as a platform to market weapons to minors.”
The plaintiffs’ lawyers showed contracts and correspondence between executives at Activison and gunmakers whose products, they said, are clearly and exactly depicted in the game despite brand names not appearing.
Mesner-Hage said the documents show that they actually prefer being unlabeled because “it helps shield them from the implication that they are marketing guns to minors,” while knowing that players will still identify and seek out the weapons.
Kristovich said there is no evidence that the kind of product placement and marketing the plaintiffs are talking about happened in any of the editions of the game the shooter played.
The families have also filed a lawsuit against Daniel Defense, which manufactured the AR-style rifle used in the May 24, 2022, shooting. Koskoff argued that a replica of the rifle clearly appears on a splash page for Call of Duty.
Josh Koskoff, the families’ Connecticut-based lead attorney, also represented families of nine Sandy Hook Elementary School shooting victims in a lawsuit against gunmaker Remington and got a $73 million lawsuit settlement.
He invoked Sandy Hook several times in his arguments, saying the shooters there and in Uvalde shared the same gaming obsession.
Koskoff said the Uvalde shooter experienced “the absorption and the loss of self in Call of Duty.”
He said that immersion was so deep that the shooter searched online for how to obtain an armored suit that he didn’t know only exists in the game.
Koskoff played a clip from Call of Duty Modern Warfare, the game the shooter played, with a first-person shooter gunning down opponents.
The shots echoed loudly in the courtroom, and several people in the audience slowly shook their heads.
“Call of Duty is in a class of its own,” Koskoff said.
Kristovich argued for Activision that the game, despite its vast numbers of players, can be tied to only a few of the many U.S. mass shootings.
“The game is incredibly common. It appears in a scene on ‘The Office,’” she said. She added that it is ridiculous to assert that “this is such a horrible scourge that your honor has to essentially ban it through this lawsuit.”
Highberger told the lawyers he was not leaning in either direction before the hearing. He gave no time frame for when he will rule, but a quick decision is not expected.
The judge did tell the plaintiffs’ lawyers that their description of Activision’s actions seemed like deliberate malfeasance, where their lawsuit alleges negligence. He said that was the biggest hurdle they needed to clear.
“Their conduct created a risk of exactly what happened,” Mesner-Hage told him. “And we represent the people who are exactly the foreseeable victims of that conduct.”
Meta’s attorneys will make arguments on a similar motion next month.
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‘Ketamine Queen’ pleads guilty to selling fatal dose to Matthew Perry
Business |
2025/08/28 13:00
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A woman branded as the “Ketamine Queen” pleaded guilty Wednesday to selling Matthew Perry the drug that killed him, becoming the fifth and final defendant charged in Perry’s overdose death to admit guilt.
Jasveen Sangha pleaded guilty to five federal charges, including providing the ketamine that led to Perry’s death. Her trial had been planned to start later this month.
Perry’s mother, Suzanne Perry, and his stepfather, “Dateline” reporter Keith Morrison, sat in the audience. It was their first time attending court proceedings since the announcement of the indictments one year ago.
Wearing tan jail garb, Sangha stood in court Wednesday next to her attorney Mark Geragos as she repeated “guilty” five times when U.S. District Court Judge Sherilyn Peace Garnett asked for her pleas.
Before that, she answered “yes, your honor” to dozens of procedural questions, hedging slightly when the judge asked if she knew the drugs she was giving to co-defendant and middleman Erik Fleming were going to Perry.
“There was no way I could tell 100%,” she said. She later added, to a similar question on vials of ketamine she gave to Fleming, that “I didn’t know if all of them or some of them” were bound for Perry. The comments didn’t affect her plea agreement.
Prosecutors had cast Sangha, a 42-year-old citizen of the U.S. and the U.K., as a prolific drug dealer who was known to her customers as the “Ketamine Queen,” using the term often in press releases and court documents.
Making good on a deal she signed on Aug. 18, Sangha pleaded guilty to one count of maintaining a drug-involved premises, three counts of distribution of ketamine, and one count of distribution of ketamine resulting in death.
“She feels horrible about all of this. Nobody wants to be in the chain of causation for lack of a better term,” Geragos said outside the federal courthouse in downtown Los Angeles. “She feels horrible and she’s felt horrible since day one.”
Sangha admitted to selling drugs directly to 33-year-old Cody McLaury, who died from an overdose in 2019. McLaury had no connection to Perry.
Prosecutors agreed to drop three other counts.
Geragos, whose other clients have included Michael Jackson, Chris Brown and the Menendez brothers, told the judge that the deal was reached “after a robust back-and-forth with the government.”
The final plea deal came a year after federal prosecutors announced the indictments in Perry’s Oct. 28, 2023 death after a sweeping investigation.
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Los Angeles school year begins amid fears over immigration enforcement
Business |
2025/08/14 07:10
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Los Angeles students and teachers return to class for the new academic year Thursday under a cloud of apprehension after a summer filled with immigration raids and amid worries that schools could become a target in the Trump administration’s aggressive crackdown.
Los Angeles Unified School District Superintendent Alberto Carvalho has urged immigration authorities not to conduct enforcement activity within a two-block radius around schools starting an hour before the school day begins and until one hour after it classes let out.
“Hungry children, children in fear, cannot learn well,” Carvalho said in a news conference.
He also announced a number of measures intended to protect students and families, including adding or altering bus routes to accommodate more students. The district is to distribute a family preparedness packet that includes know-your-rights information, emergency contact updates and tips on designating a backup caregiver in case a parent is detained.
The sprawling district, which covers more than two dozen cities, is the nation’s second largest with more than 500,000 students. According to the teachers’ union, 30,000 students are immigrants, and an estimated quarter of them are without legal status.
Federal immigration enforcement near schools causes concern
While immigration agents have not detained anyone inside a school, a 15-year-old boy was pulled from a car and handcuffed outside Arleta High School in northern Los Angeles on Monday, Carvalho said.
He had significant disabilities and was released after a bystander intervened in the case of “mistaken identity,” the superintendent said.
“This is the exact type of incident that traumatizes our communities; it cannot repeat itself,” he added.
Administrators at two elementary schools previously denied entry to officials from the Department of Homeland Security in April, and immigration agents have been seen in vehicles outside schools.
DHS did not immediately respond to an email seeking comment.
Carvalho said that while staffers and district police officers cannot interfere with immigration enforcement and do not have jurisdiction beyond school property, they have had conversations with federal agents parked in front of schools that resulted in them leaving.
The district is partnering with local law enforcement in some cities and forming a “rapid response” network to disseminate information about the presence of federal agents, he said.
Educators worry about attendance
Teachers say they are concerned some students might not show up the first day.
Lupe Carrasco Cardona, a high school social studies and English teacher at the Roybal Learning Center, said attendance saw a small dip in January when President Donald Trump took office.
The raids ramped up in June right before graduations, putting a damper on ceremonies. One raid at a Home Depot near MacArthur Park, an area with many immigrant families from Central America, took place the same morning as an 8th grade graduation at a nearby middle school.
“People were crying, for the actual graduation ceremony there were hardly any parents there,” Cardona said.
The next week, at her high school graduation, the school rented two buses to transport parents to the ceremony downtown. Ultimately many of the seats were empty, unlike other graduations.
One 11th grader, who spoke on the condition that her last name not be published because she is in the country without legal permission and fears being targeted, said she is afraid to return to school.
“Instead of feeling excited, really what I’m feeling is concern,” said Madelyn, a 17-year-old from Central America. “I am very, very scared, and there is a lot of pressure.”
She added that she takes public transportation to school but fears being targeted on the bus by immigration agents because of her skin color.
“We are simply young people with dreams who want to study, move forward and contribute to this country as well,” she said.
Madelyn joined a club that provides support and community for immigrant students and said she intends to persevere in that work.
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Immigration judges fired by Trump administration say they will fight back
Business |
2025/07/26 14:42
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Federal immigration judges fired by the Trump administration are filing appeals, pursuing legal action and speaking out in an unusually public campaign to fight back.
More than 50 immigration judges — from senior leaders to new appointees — have been fired since Donald Trump assumed the presidency for the second time. Normally bound by courtroom decorum, many are now unrestrained in describing terminations they consider unlawful and why they believe they were targeted.
Their suspected reasons include gender discrimination, decisions on immigration cases played up by the Trump administration and a courthouse tour with the Senate’s No. 2 Democrat.
“I cared about my job and was really good at it,” Jennifer Peyton, a former supervising judge told The Associated Press this week. “That letter that I received, the three sentences, explained no reason why I was fired.”
Peyton, who received the notice while on a July Fourth family vacation, was appointed judge in 2016. She considered it her dream job. Peyton was later named assistant chief immigration judge in Chicago, helping to train, mentor and oversee judges. She was a visible presence in the busy downtown court, greeting outside observers.
She cited top-notch performance reviews and said she faced no disciplinary action. Peyton said she’ll appeal through the Merit Systems Protection Board, an independent government agency Trump has also targeted.
Peyton’s theories about why she was fired include appearing on a “bureaucrat watchdog list” of people accused by a right-wing organization of working against the Trump agenda. She also questions a courthouse tour she gave to Sen. Dick Durbin of Illinois in June.
Durbin blasted Peyton’s termination as an “abuse of power,” saying he’s visited before as part of his duties as a publicly-elected official.
The nation’s immigration courts — with a backlog of about 3.5 million cases — have become a key focus of Trump’s hard-line immigration enforcement efforts. The firings are on top of resignations, early retirements and transfers, adding up to 106 judges gone since January, according to the International Federation of Professional and Technical Engineers, which represents judges. There are currently about 600 immigration judges.
Several of those fired, including Peyton, have recently done a slew of interviews on local Chicago television stations and with national outlets, saying they now have a platform for their colleagues who remain on the bench.
“The ones that are left are feeling threatened and very uncertain about their future,” said Matt Biggs, the union’s president.
Carla Espinoza, a Chicago immigration judge since 2023, was fired as she was delivering a verdict this month. Her notice said she’d be dismissed at the end of her two-year probationary period with the Executive Office for Immigration Review. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website and help you redesign your existing law firm site to secure your place in the internet. |
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